Examlex
Milgram's study of obedience to authority, where subjects thought they were shocking another subject, raised questions about which two ethical concerns?
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a balance in the market.
Producer Surplus
The discrepancy between the price at which producers are prepared to offer a good or service and the price they actually obtain.
Demand Shifts
Refers to the change in the quantity demanded of a good or service at any given price, caused by factors other than the price of the good itself.
New Equilibrium
The state reached when market forces realign, resulting in a new balance between supply and demand after a disturbance.
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